Distributed era investor CleanCapital obtains USD 200m mortgage

Might 11 (Renewables Now) – New York-based clear power funding platform CleanCapital on Wednesday mentioned it has secured a credit score facility of as much as USD 200 million (EUR 189.5m) with Dutch lender Rabobank to again its pipeline of distributed photo voltaic and power storage tasks.

Structured as an accordion, the power will be capable of assist CleanCapital’s rising portfolio. As an preliminary anchor portfolio will serve a bundle of 35 photo voltaic property totalling 29 MW and situated in 11 states.

Melinda Baglio, chief funding officer and basic counsel at CleanCapital, mentioned that the power will enable the corporate to be “much more aware of market alternatives” because it continues to broaden its portfolio.

The mortgage gives for varied offtake varieties reminiscent of utility offtake, industrial and industrial (C&I) energy buy agreements (PPAs), internet metering and neighborhood photo voltaic. Rabobank will act as mandated lead arranger, administrative agent and collateral agent.

In keeping with Claus Hertel, managing director, challenge finance, the distributed era sector is an more and more necessary space to assist decarbonisation and an recognized space of development for Rabobank.

CleanCapital says it has up to now accomplished greater than USD 800 million in acquisitions and purchased greater than 300 MW.

(USD 1 = EUR 0.948)

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